The point of sale (POS) car finance market declined 2% by value and 5% by volume in January 2020, the Finance and Leasing Association (FLA) has revealed.
The National Franchised Dealers Association (NFDA) has called for a three-month MOT moratorium during the Government-imposed lock-down of non-essential retail businesses.
Government will only reimburse up to 80% of the monthly wage of car dealership employees if their jobs have been put “at risk” by the current COVID-19 coronavirus outbreak.
The Finance and Leasing Association’s (FLA) head of motor finance has said that every effort should be made to keep motorists “in their cars” as coronavirus inhibits some consumers’ ability to make repayments.
BCA has revealed that the average value of a used vehicle rose 1.6% to a record £10,002 at its auctions in February as it praised the sector's resilience in the current COVID-19 coronavirus health crisis.
Chartered accountants UHY Hacker Young have prepared a guide to help car dealers prepare applications for Government loans set to help businesses following the COVID-19 coronavirus outbreak.
While Jaguar Land Rover (JLR) is still producing cars in the UK (for now), the rest of the UK mass auto industry has effectively shut down, as the devastating economic effects of coronavirus unfold across Europe, disrupting supply chains and dramatically reducing demand.
Car showrooms have been included in the list of businesses which will be exempt from business rates during 2020/21 – regardless of their taxable value.
Results from the latest LeasePlan Mobility Monitor have revealed that car data privacy is a top concern for UK drivers.
Ford and Volkswagen have followed PSA Group’s lead by suspending vehicle production at their European plants due to the outbreak of COVID-19 coronavirus.
The National Franchised Retailers Association (NFDA) has urged Government to introduce fiscal measures to protect the automotive retail sector from the impact of COVID-19 coronavirus.
The PSA Group has outlined its plan for a series of temporary closures at its European plants in light of the COVID-19 coronavirus outbreak.
Car dealers should open negotiations over potential rent arrears now as the COVID-19 coronavrius threatens to harm cashflow in the coming weeks and months.
The International Monetary Fund (IMF) and automotive sector analysts have expressed an inability to speculate over the economic impact of coronavirus as businesses grow increasingly “anxious over the duration” of the outbreak’s impact.
Automotive retail sector analysts suggested that the limited eligibility of many business benefits announced in Chancellor Rishi Sunak’s Budget 2020 could limit the advantages for the automotive retail sector.
Chancellor Rishi Sunak has outlined an investment of £12 billion to help manage the effects of coronavirus on UK households and business in his 2020 Budget.
The Bank of England has cut interest rates back to a record low of 0.25% in response to the economic impact of the coronavirus.
Coronavirus has been acknowledged among a series of “significant challenges” facing the automotive retail sector in the middle to long-term in Cox Automotive’s monthly Market Tracker report.
UK car buyers have Europe’s strongest appetite for used diesel cars according to stock turn data published by Indicata this week.
Marshall Motor Holdings reported revenues rose for a fifth year since its IPO, rising 4.1% to £2.28 billion in the AM100 car retailer group’s latest set of annual financial results.
